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A debate over how to regulate the nascent Marcellus Shale industry in Maryland is progressing more subtly than similar debates in Pennsylvania or New York.

The pace of development at Encana Corp. was hampered in 2010 by low natural gas prices, but farm-ins, partnerships and joint ventures (JV) similar to the $5.4 billion transaction with an affiliate of PetroChina International Ltd. will help the company double its production growth over the next five years, CEO Randy Eresman said Thursday.

The Arkansas Oil and Gas Commission (AOGC) has extended a moratorium on the drilling of new disposal wells in the Fayetteville Shale by six months while it collects data to determine whether disposal activities contributed to hundreds of small earthquakes in the area.

Following the market’s recent tradition of following a large spike with a similar collapse a day or two later, January natural gas futures answered Wednesday’s 21.3-cent jump with a 17.1-cent drop Thursday to close at $4.435.

Growing natural gas liquids (NGL) production from the Marcellus Shale could support one new pipeline project in the near term and possibly a second in about five years, according to Wells Fargo Securities senior analyst Michael Blum.

The Obama administration opened up federal lands to alternative energy development this month in the first of what promises to be a series of similar announcements. Interior Secretary Ken Salazar announced the federal government’s willingness to put aside environmental criticism and allow two large-scale solar projects to be built on Bureau of Land Management (BLM)-controlled lands in Southern California.

Coming off Monday’s 22.2-cent decline in September natural gas futures, traders on Tuesday tested the upside a second consecutive day with similar results. After reaching a high of $4.825, the front-month contract backed off once again, closing the regular session at $4.639, down 6.2 cents from Monday’s finish.

President Obama stressed the need to pass energy and financial reform legislation, and to clean up the oil spill in the Gulf of Mexico and prevent similar spills in the future during a meeting Thursday with House Speaker Nancy Pelosi (D-CA), Senate Majority Leader Harry Reid (D-NV), House Majority Leader Steny Hoyer (D-MD), House Minority Leader John Boehner (R-OH) and Senate Minority Leader Mitch McConnell (R-KY).

President Obama stressed the need to pass energy and financial reform legislation, and to clean up the oil spill in the Gulf of Mexico and prevent similar spills in the future during a meeting Thursday with House Speaker Nancy Pelosi (D-CA), Senate Majority Leader Harry Reid (D-NV), House Majority Leader Steny Hoyer (D-MD), House Minority Leader John Boehner (R-OH) and Senate Minority Leader Mitch McConnell (R-KY).